Company number.. 01162325 Charity number.. 269003 NOTRE DAME PREPARATORY SCHOOL INORWICH) LIMITED {LIMITED BY GUARANTEEI FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 AUGUST 2022 NOTRE DAME PREPARATORY SCHOOL INORWICHI LIMITED COMPANY INFORMATION COMMITTEE OF MANAGEMENT K Long (Chairman Designate) R Bailey Ichainnanl IR8signed 29103120221 S Chia Father A Etyjme Ivice Chainnanl G Holland A Spray J Walker IAppointed 12110120221 H wor9￿Y IAppoinled 12110120221 T Bailey (Resigned 29103120221 CarM)n D Paul (Re￿ned 12110120221 ADDITIONAL MEMBERS OFTHE BOARD OF MANAGEMENT Rob Tknilon IH6admaslerl BURSAR Mrs A Wamg COMPANY NUMBER 01162325 CHARITY NUM8eR 2&J)03 REGISTEREO OFFICE 147 Dgrgham Road Norwich NR2 3TA AUDITORS Price 88iley LLP Chartered Accountants Statutory Auditors Anglia House 6 Central Avenue Sl Andrews Business Park Norwich NR7 OHR BANKERS HSBC Bank p 18 London Streel Norwich NR2 1LG KEY MANAGEMENT PERSONNEL Rob Thomton IH8adrnaslerl Lwise Campbell IDeputy Headl Kirn Laudan (Deputy Headl Alison Wam8 IBu¥sarl NOTRE DAME PREPARATORY SCHOOL (NORV￿cHI LIMITED CONTENTS Page R•port of thè Commltt8• of Manag•ment 4-12 Audltor8' roport 13- 15 Ststernent ol flnanclal aCti￿tIeS 16 Balane• #heet 17 Ststornent ol ealh flowi 18 Notes 19-30 NOTRE DAME PREPARATORY SCHOOL INORWICHI LIM￿ED REPORT OF THE COMMIThEE OF MANAGEMENT (INCORPORATING A DIRECTOR'S REPORTI FOR THE YEAR ENDED 31 AUGUST 2022 The Committee is ￿eaSed to submit its annual reportandffinancia statementsforthe yearended 31 August 2022. REFERENCE AND ADMINISTRATIVE DETAILS Charlty number 26￿3 Company nurnber 01162325 Dlr•¢tors and Iru$t••$ K Long Ichairrnan Designat&l R Bailey (Chairman) IR8sign8d 11103120221 S Chia Father A Etwrne Ivice Chairman) T 8ailey (Rèsigned 13103120221 A Spray G Holland C8non D Paul (Resigned 12110120221 H Worsley (Appointed 12110120221 J Walker IAppoint8iJ 12110120221 CommStt8• of Management The directors of the charitable company I"Ihe schoofi are ts member8 of Ihe Committee of Mana9emenl and ils trustees for the purpose ol company and chanty law. M•mbbr8 All members ofthe Comrntttee of Management a￿ mernbers oflhe tharitsble company. The charitable company has no share capital and the liabilily of members is limited by the guarantee lo Contribute a n)aximum of £1 to the assets of ltte company in the event of its winding up. At 31 August 2022. the chantable ctjmpany had 7 such members12021". 81. In the event of the charilable ccrfnpany being wound up with 8urF4us lunds, no members shall bg enli119d to partiopale in the distribution of the surplus. The fun¢ls ￿mainIng after setuement of all liabilities will be transfer to like organisalions pursuing similar charitsble objectives. STRUCTURE, GOVERNANCE ANO MANAGEMENT Gov•rning do¢umtnt Notre Darne Preparatory sch￿ is a company limited by guarantee and registered under the Companies Act 2006, registration nurnber01162325. 11 is a registered charity. charity number 269003. The goveming insirum8nt for Notre Dame Preparatory SchcK)l is its MemDrandurn and Articles of Assocaalion. The governing body of Ihe Company is ¢he Commrtiee of Management and ¢hey act as trustees for the charity. The Committee is responsibk for ¢onlrolling Ihe management and administration of the company. Rlsk management The trustee5 have identified the major risks lo which they believe The school is exp)sed. Risks indude but not lirnited to.. Financial risk, safeguarding children. Cowd-19, acudenlal injury. sch￿1 trips, risk of vandalistn, fire, intruders and trespassers. The School has robust w)licies. iisk assessments and procedure5 in placeto rninimise risks within the school. See examples of risk management the key areas below.. Page 4 NOTRE DAME PREPARATORY SCHOOL INORIMCHI LIMITED REPORT OF THE COMMIThEE OF MANAGEMENT (INCORPORATING A DIRECTOR'S REPORTI FOR THE YEAR ENDED 31 AUGUST 2022 Risk ar&a Safeguarding chI￿ren Safe uards in ace Regular slaff training C(ffiplk8nce with the ISI re9ulatw requirements Safeguardiryj audrts ts)Ih inlemal and external Agenda point at every senior managernenl meeting Three members of staff wilh up to datg DSL trainino Safer recruitment training Regular monitoring ol Ihe Single Central Register Fi￿1 aid policy Medical emergency planThng 304 staff trained in first aid Robust prctedures in place for ¢h8 administration of medicatDn Robust prctedures in place for d)Ildren wrth allergies and spedfic dietary needs Klissing chik4 pc4icy Deputy Head IPastorall ¢(￿rdInateS pupil weltsre support and Inibalives. Appropnate s(xutsny and au¢horisats"on of transacts'ons Regular finanaal rerthing and projections to the governing body a￿1 Ihe SMT Accounlanls au(h'l contrd SAGE sofhvare suppvl Financial nsk assessmenl in Fire policy in place Fire risk assessmenl in place that is reviewed regularty Regular monitoring ol fir8 alarrn 5yEtems and 8quipm8nt Regular fire drills Regular seNring and te5tsng of electric81 and gas SyBterns Daily site walks Ccyn Irdnca with Ihe ISI r ulat Robust Heatth & Safely pclicy In ￿?¢￿ Risk a5sessm8nts compleleij lor each araa of risk. Departmental review lak8s place when anything change5 or annually for no other son. Govemcw led Hearth & Safety Committee Regular mon11￿ng ol key areas such as Flre, Flrst Ald, COSHH. )n811a. Asbe5t05 and Food Safg Main 8ntry gale5 and d￿r5 conlrolled by magn8lic locks and 8 buzzer and inlerrxyn systern Site gales loc*e¢l imrne¢lialely after pick up and drop off ami system installed with is monitored extemally Risk a5sessrnenl in lace Visits & Tnps Policy in place Individual risk a5se5sment5 complet8d foreach trip byth8 eV8nt le8d Missin and rol(Kds CovKI-19 rKJlicy in place CovKI-19 risk assessmenl in rAace Ihat is updated regularfy Additsonal deaning proti¢ds Following laresr govemment and DFE adw Ou¢break Management Plan in place and critiral iwd8nt monitoring Visitors In￿de th8 buildi r8stric18d Financial Flre uirèmants Health & Safely General Intrud8rs Sch￿1 Trips Covid-19 Page 5 NOTRE DAME PREPARATORY SCHOOL INORIMCHI LIMITED REPORT OF THE COMMIThEE OF MANAGEMENT (INCORPORATING A DIRECTOR'S REPORTI FOR THE YEAR ENDED 31 AUGUST 2022 HR & Staff Welfare SAGE HR suprN)rt Staff training- 3 year devekjpmenl plan in place Mernber of ISBA Staff itvjuction procedure5 Regular urAlat8S to staff and inset training SMT have an open door rolicy Deputy Head IPastorall- cwrdinates staff welfare support Staff rnental health In1￿.a￿ve5 Staff handbook Staff code of conduca and behaviwr pcAicy Other General Points of Note Regular govemor, SMT and staff meetings are held in ord8r to ad off problems before they become an issu8 Risk register is in F4ace which 15 updated al regular iTht8rvals. The schcM)l is a member ol Th8 Indepondont Schools Association IISAI. The Independent Schoots Bursars. Association IIS8AI and The Association ol Goveming Bodies of Independent Schools IAGBISI. These organi58tiOn5 off8r a w88lth of 5UPPOrt lo the school from, general guidance over the telephone to providing lemrAale ¢Jocuments lor key FdIc￿S an(J Informauon relallng to best prattth. The governlng bc4Jy is made of [r￿berS from varylng backgrounds and Skill sets. This brea¢lh of experience and knowledge feeds In￿ the school and helps to idenlfy areas for improvement and ènsurè Ih8t Ihè sehtsol is moving forward $8fèly Kl eff8clively. Headmaster is an ISI inspeclor In addilion, from lim8 to tirne, th8 5choc4 will insligalg an ind8Fendent audil of an area of Iha school cornpliance i.e. Health & Safety and Safeguarding. Such audi15 ensure that the sthod5 procedures are independently scrulinised and help keep the exposure to potential risk I￿. Appolntrnent of trustee• All fflembers are orcula18d with 8 noi1(* prior to th8 AGM which nOtif￿S th8rn of the members who retire by rotation and if eligible. offer thern5elves ft)r rfr81ectK)n. Tru8t88 Inductlon and training All future Iru$tee$ wll receive briefing as to Iheir legal obllgations undeT charity and ¢ornpany law, Ihe ¢ontenl of the Memorandum anij Artides ofAssociatN)n. Ihe commrttee and deogon making prwesses and re￿nI financial perforniance of the Charitab￿ cornpany. Arrangements for settSng pay and rernuneration of key management personnel The Senior Leadership Team remuneralion is Set according lo industry standards pertaining to 5chod 51Z8 8nd numbers of children on roll. The headrnaster is responsi￿e for settit¥J the deputy head5. arKJ bursar'5 pay, and the governing body is responsible for Sel￿ng the headrnaster's pay in aLrordaTrce with DFE guideline5. Organisation The Committee mee¢s regulartyand a manager is app)inted by the trustees to manage the day lo day operations of Ihe charitable cornpany. Page 6 NOTRE DAME PREPARATORY SCHOOL INORIMCHI LIMITED REPORT OF THE COMMIThEE OF MANAGEMENT (INCORPORATING A DIRECTOR'S REPORTI FOR THE YEAR ENDED 31 AUGUST 2022 OBJECTIVES AND ACTIVITIES ObjectiVOS The objectiv8 of the Sch￿)1 18 the advancfimènl ot 8duCatiC￿ in a Catholic c*Jntext, but to children of all faiths or none. Onginally found￿ by Ihe Sistets ol Notre Dame in SU￿eY Street. NLYwich in 1864. the schcy)I was translerrod to Dereham Road in August 1973. The Prep8ratrMy Schod rnaintains the traditK)ns 8nd s￿rit of th8 Sisters of Notr8 Dame de Namur. Mission Statement As a Roman Catholic schod we endeavour to nurture a h)ve of GCMJ through Jesus Chr￿t in all our Chiklren. The school has an ethos of love and care aThJ emtKwts thildren of all faiths. Children are treat8d as individuals, rgSP8Ct¢d, nurtured and or￿￿jraged to embrac8 and fulfil their potential in 811 areas tsf Scho￿ lrfe. We losler posiUve relat50￿hip9 wrth peers and adults. and strive lo engender mutu81 mspect In all. We provide a Wkyprrange of extra•fAJrTi￿4ar a￿l￿"t￿$ in order to develcfj the lalenls of each child. Thè prirnary pu￿0$* of Nolre Darnè PMparaiorySehcd i$thèadvanetm•ntofèdueation forehildrèn. Inèxtrieably linked wilh this purpose is the aim of conlribuling to the public gcKJd. Notre Dame Prep School aims to contribute conSidera￿e public benefit lo the local. na￿onal and inlemalional commJnrty. Pupils arè encouraged and expected 10 devdop an understanding ol. and a commitment to. publlc benellt values as an integral part of their education. Puwls absorb the58 values boih consciou￿Y and uncon5CIOU51y and lh8 School tries to deliver an appropnate progwme in both a 81rurAwed and unstructured way. and to lead by example. Th8 schod m88sur•s ils suc￿sS using natic¥)al standardisad sctses Ic¢ d)ihlran in thèir last ya8r an¢J balora embarking on secondary schod t(lueation. SATS sets￿$ indicaia Ihai Notra Damè is tha leading Prep8raltsry School in East Anglia ahhough the Sch￿)1 pr¥Jes rtseifon the happyand well.rounded young people that generally are able to a¢￿sS secondary schcds of choi￿. PUBLIC BENEFIT Perhap5 th8 gr88test PU￿1¢ teneffl Ihal Notre Dam& Prep Sthod can offer is Ihe affordable provision of an education that maximises the likelihcM)d ol ils pupils developing into prinupled, infomied, open minded an confident citizens who ￿SpeCt the beliefs of Olhers and who are detemiined lo make a positive contribution to society. As a Catholic School we adively encwrage a muifi)d on site for all pupils. During the summèr 012019 th• sd*#Jl investèd a lurther £350.C(*J in an 8Xt8n$ion Ihal w8$ 8dd8d lo th8 sehool replacing the existing mobile classrcKJm. The extension In¢￿pOr818d new officeand classroom space and allowed for the library lo be moved downslairsand extended. Not onty did the extension improve the facilities and learnin9 space for the pupils the additi￿ ol a wrpos&twih receptionloffic* area improved securrty. Further investmant in th8 EYFS has taken plac8 OV8r the last eoupla ol years with improvements lo the outsidè play spaces. This includes the instsllatK)n of all-wealher canopies direclly outsde the EY cl868r¢)om6 and more accesslble and dired access lo the schocl garden with improved resources. The Statemenl ol Flnanaal Actiwties is set out in po98 14 and shtrws th6 Income and 8pplScation of resources for the year. FINANCIAL REVIE7•V Tot81 income ltsr the year was £1,207.077 ec¥np8f*d to £1.177.618 in 2021 and total eosts wara £1,313,23S eompartd lo £1.290,577 in 2021. The above ha3 resulted in a net deficit dunng ts year unreslric¢ed fvnds of £105,9￿ 12021.. deficit of £112.7611. The balance on the general fund at 31 August 2022 was £841.34612021'. £947.3361. These funds are held to support the fulurè d￿elopment of ihe chantable 8Cliw*es. The balance on restricted funds at 31 Augusl 2022 was E28012021.. £4481. At the year end. Ihe scho)I had 178 pupits12021.' 1831. Th8 reduction in pu￿1 number5 15 due io a large cohort of pupi15 leawng the top end of the School in Prep 6 in July with a Iow8r than expected intake into Pr&Prep and Nursery in September 2021. P8ge 10 NOTRE DAME PREPARATORY SCHOOL INORIMCHI LIMITED REPORT OF THE COMMIThEE OF MANAGEMENT (INCORPORATING A DIRECTOR'S REPORTI FOR THE YEAR ENDED 31 AUGUST 2022 Reserves pollcy The policy set by the Commrttee i% as I￿lOW$= 3 fflonlh5 running cosls. which amount5toappToximatdy £350.000 is to be kept in reserve for unforeseen fiscal pressures. Reserves Fmvid8 funds to help [￿t the ong(MThJ r8p8ir work n88ded to maint8in the school building. As al 31 Augusl 2022 unreslrithd funds were £841.34612021.. £947.3361 and free reserves (defined as net eurrenl assets within unrestricted funds) We￿ £354.401 12021.. £394.8741. The Committee believes the current level of rese￿eS needs to be maintained given the w)licy above and budgets will be set over Ihe coming year5 to ach￿V8 this. GOING CONCERN. FUTURE DEVELOPMENTS AND EVENTS SINCE ThE END OF THE YEAR The eurrent economie dimale Isa drffi(JJltoneforall coneemèd as both businessand family budgeis are squeèzed and just corning of the back of the Covid-19 pandemic makes it thallenging tirnes indeed. This is why it is morg important than 8ver lo ensure Ihat the schod is a￿ayS looking lo lh8 future and th81 full and proper plan5 and proiects'ons are in place. B•low ara somè $xampl•s of th• schts)Is euty•nl and fului• plans.. The 5¢hod has con¢entr8ted a 9￿81 deal ol efflyt in rnarkeb.rg and 9911ing exp9rt hglp in this regard. This is to ensure ¢hal the business has a strong online presence Ihal is targeted to the right demographic and thal all communica￿.0ftS. a¢fv8rts and the websit• are consistènt in approach. Our Open Morning5 are ncw held during the working week inst88d of the W8ek8nd wrth a r8v8rnped format. These have proved lo be much more successful as parents Can see the sch¢)ol in actlon on their tours which glves them the proper leel for the school and how we operate. Th$ school brtsjght tha holiday dub pfowsion back in-housa D￿Mb￿r 2022 in order that Wa C8n offer ¢hild¢are outside of ¢eThlime Icf all our pu￿L* 89ed from 2 10 11. The is looking lo grow thi3 rea In the next 12 monlhs nce Cow¢>19 hrt our Toddl6f grtyJp has been c*)sed. however, from January 2023 this has been reinstated and r8juvenated. This group servesthè be81 eomrnunityand also can also attr8Ct children into the nursery and main scho￿. The schod is Currenlly boking lo invesl in imE￿Wr￿j IvJhtin9 and insul8ty.on in the buiklir¥J to help to offset increased fu81 c051s which are likely to r8main high for the lore5eeat48 future The 8xt8nsion of Ihe nursery provision io a 50 week 8 year setting is still being considered. Full ￿an3 for this have Th)¢ yet been finalised but are cu￿n11Y being worked on. From the beginning of the Cowd-19 pan¢JerDic the trustees of the finance corntnittee have carefully considered th8 financial impact on the tharity and likewise. with the (xjrrent (x)sl ol living crisis. Al decisions that ar8 made are based on full and prcper finanrial projections and have shown that the business has sufficient cash reserves to maintain thability for at least one year ahead from the date of approval of these accounts. The pandemic and Subsequent economic clirnate ha5 broughl horne the importance of having a wellwanned and thought through reserve5 policy and has proven that rhe NDPS Te5eryes polKy has stood the school in good Stead during a difficu f8w years and 8fford8d a buffer. P8ge11 NOTRE DAME PREPARATORY SCHOOL INORIMCHI LIMITED REPORT OF THE COMMIThEE OF MANAGEMENT (INCORPORATING A DIRECTOR'S REPORTI FOR THE YEAR ENDED 31 AUGUST 2022 Statement of trustees. responsibilities The Trustees Iwho are also directors of Notre Dame Preparatory Sthool for the purposes of company lawl are r8spon5I￿e for pr8paring the Trustees. report and the finan￿81 statements in accordance with 8pplicab18 law and United Kingdom Accounting Standards (United kn'ngdom GenerallyAc(*pted Ac￿￿ntIng Practic*l. Company law requires Ihe directors to prepare finanual statements for each finanaal year. Under that law the directors have electe(J to wepate the financial stalernenls in acc1Xdan￿ with United KiTTrgdotn Generally Accepted Accounting PradiC￿ IUnit8d ￿.￿dorn Accounts'ng Stand8rd5 and applicat￿ela￿l. Und8r company law tho directors musl not approvg Ihe financial statem9nts unless th8y are satisfied that thgy give a tru8 and fair view of the slate of affairs of the tharitable company and ofthe inroming resources and application of resources. ncludlng the income and expendrtUTe. of the charilable company for that perK)d. In preparing these financial 51aternenls. the directors ar8 requirEd to.. select suitable accoUn￿n9 Oicies and then apt4y them consstently. ob58rv8 the method5 and princip48s in the Charities SORP 2019 IFRS 1021., make judgments and accounb'ng estima¢es that are reasonable and prudent; stale whether applicable UK Accounting Slandards have b88n folknved, subject to any material departur85 disdosed and explained in lh8 financial sta18rn8nl$', prepar8 the financial stalemenls on the going ¢oncem b8si$ unless rt is inappropriate tg presume that the charitsble Cornpanywill continue in operati￿. The trus¢ees are respongble for keeping adequate accounting recuds that dis¢k)se with reasonable accuracy at any time Ihe finanoal position ol the charitsble company and ènable them lo ensure ihal the financial slalements eomply with thè Companiès Act 2006. T￿Y are also rèsponsibla for safeguarding thè ass81s Of the charitablè eornpany and heThee for taking reasonable 518ps lor th8 Preven￿'On and deleclion of fraud and other irregularities. The Iwslees are responslble lor the Maintenanc￿ and Inlegrity olthe c￿rpOrate and flnancial Infom)atlon Included on the chantable company's websrte. Le9islalion In ihe United Kingdom goveming the preparation and disseminalion ol financial 51alernents rnay dilfer from legi￿a￿On in other jurJ5dictvJns. ststement of dlsclosur• to audltors Each of Ihts persons who are Trust•ès at th• tlm• wh8n Ihls Trust8•s' r•pc*l Is approved has confimiad that.. So far 8S that Trust*8 is awar•, there is no relevant audil inf0m1at￿ ol whKh Ihe charilabk companls audrtcws are unawa￿, and Ihgt Trustee has taken all the steps that ought lo havè been ￿k￿n as a Trustee in tsrdor to be aware of any information needed by the chari¢able cornpanl5 auditors in connection with preparing their report and lo establish that the chari¢ab18 ￿mPanY5 auditors are 8ware of that 1nf0rrn8t￿n. In prepariry Ihis report, Ihe Truste8s hav8 takèn advantage ol Iha smal iy)rnpanies 8X8mpl￿nS provided by 58clion 415A of the Companies Act 2(￿6. AUDITORS A resolution proFKJgng that Pri￿ Bailey LLP be reappoinled as auditors of the schcKJI will be put to the members at the Annual General Meeting. 8y order of the Board tBhWY IMAr 23. 2tsyJ, Director l Trustee Dat8.. 23 Mar 2023 P8ge 12 NOTRE DAME PREPARATORY SCHOOL INORIMCHI LIMITED INDEPENDENT AUDITORS. REPORT TOTHE MEMBERS OF NOTRE DAME PREPARATORY SCHOOL INORWICHI LIMITED Opinion We have audited the financial statemenls ol Not￿ Dame P￿Paratory School INotwi¢hl Ltd (the 'charitable cofflpany I for the year ende(J 31 Augu51 2022 which cornprise Statement of Financial Activitie5, the Balan Sh88t, th8 Cash Flow St8t8rnent and lh8 related not8s, inrjuding signifirant acrxwnting polici8s. The finanual reporting framework that has been applied in their preparation 1$ applir2bl8 law and United Kingdom Accounting Stsndards. including Finan(#al Reporbn9 Stsndard 102 The Financial Reporting Standard 4qppIiG8ble in Ihe UK and Republic ol I￿land (Llnited Kingdom Generally A￿pIe£l Accounting Pra￿1￿1. In our opinion th8 finanrial stslem8nts'. give a true and fair vwi ol the stale of the charilaNe o)mpanls affairs as al 31 August 2022. and ol its Incoming resources and apF4icalion of resources. including ib incom6 and expenditure. for the year then ended., have been properly prepared in accwdance with Vnrted Kir4Jdom Generally Accepted Accwnting Practi¢e', and have b8•n prepared In accort1ancts vthh th8 wu¥•m•nts ol tha Compani6s Act 2006. Bas18 lor oplnlon We conducted our audit in ac¢Ndance with Inlemat￿JnaI Slandards on Avditing IUKI IISAS IUKII and 8p￿1¢8b1e law. Our rèsponsibilities undèr those standards are fur1her dèscribed in the Auditor's responsibilities for the audlt thè financial slatoments $6tlion ol our rtrport. We are indepèndènt of the eharilable ctsrnpany in accord8neè wilh th$ elhical rtquiremènts Ihai ars rèl$vanl 10 our audrt ol the finanaal Slalemènls in the UK, including th FRC'S Ethi¢81 St8nd8rd, and we h8ve fv￿lled our other ethical responsibilities in 8ccordance with thesg requirements. We bdieve that the atyyil evidence we have ob¢ained is suffi¢Aent and appropriate to prowiye basis lor our opinion. Conclu8lon8 relatlng to golng conc•rn In audlling Ihe financial stslements, we have conthded Ihal Ihe ¢rus¢e8s' use of Ihe going conc8m basls of accouniing in thè preparation ol the finanaal s￿￿ments is appropriaie. Based on the work we have perforrned, we have not thnlifi&Y any rnaterial Uncertain￿'e$ relating to events or conditions that, individu811y ￿ collecti¥ely, may cast Signif1r2nl doubt on the tharitabl8 companls ability lo continue as a going con￿rn lor a per￿ of at least tWe￿e months from when the finanrial statements are ulhorised lor issue. Our responsibilities and the respo￿*)111￿￿S ol th? Injsiees wilh re5pe£l to going concem are describgd in the relevant sedions of this report. Oth•r Inlomiation The other information comprises the infomiation induded in Ihe report of the rx)mmitlee of management, other than the financial statements and our auditor's report Ihereon. The Irustees are responsible for the other information CA)ntsined within the ￿port of Ihe wmmittee ol management. Our opinion on the financial statements does not cover the other infcKmal￿n and. except ￿ the extent Olherwse ex￿1¢￿tlY ststed in our reptrt. we do not exwe5s any form of assurance condUsic￿ thereon. Our responsibility 1$ to read the other Infomiation and. in dryng so. ¢onsider whether the other information is materially in¢onsistent with Ihe financol slatements ￿ our knowledge obtained in the Course of the audit or othe￿ISe appear5 to be rnalenally mis51ated. If VR Njenlrfy suth Fnaterial incon5151encie5 or apparent tnaterial mi55tztements. we are required to determine whelher thi5 give5 rise lo a tnaterial mi55talement in the financial statements themselves. If, based on Ihe work we have perfomied, we o)nclude that there is 8 rn8teri81 misstatement of this other information. we are reouired lo report that la¢L We have nothing to rewt in thi5 regard. P8ge 13 NOTRE DAME PREPARATORY SCHOOL INORIMCHI LIMITED INDEPENDENT AUDITORS. REPORT TOTHE MEMBERS OF NOTRE DAME PREPARATORY SCHOOL INORWICHI LIMITED Opinions on other matters prescribed by the Compan￿8 Aci 2006 In our opinion, based on Ihe wo¥k uryjertaken in the course of a￿lit.. the Informa￿on given in the retKJrt of Ihe Committee of Management for lh8 finanryal year for which the financial statements are prepare(I Is ￿nsiStenI with the financial statements.. and the report of the Committee of Management has been prepa￿ in accordanc4 wrth applicabb legal requirements. Matters on whlch we ar• r•qulr¢d to report by ex¢eptlon In the light of our knoW￿d98 and und8rs18nding of lh8 tharitable ￿rnpany and its en¥iTonrnent obtained in the course of the audit. we hav8 not identified material misstatem8nts in the report of the cornmitte8 of managem8nt. We have r￿thing to report in resp8Ct of the foll)wing matlers in ￿latI￿ towhich the G)mpaThies Act 2006 ￿qUireS us to report to you rf. in our opinth.. adequate accounting record5 hav8 not been kept, or retums adequate for our audit have not been received from bran¢hgs not visited by us., or the finan¢Jal statements are not In agreement with the a¢￿untir￿j ￿￿)rdS and retums., lx certain disclosu￿$ of Trustees. remuneration Specif￿ by law are r¢ot made,. or we hav* noi r8c$N$d al Ihe inlomiation arKI ex￿anationS wè raquira lor our audit. th8 Truste8SW8r8 not ent￿ed to prepare the financial stalem8nts in accordance with lh8 srnall comp8nie regirne and lake advantsge ol the small Compan￿$, exempl*Jis in preparing the report ol the Commille8 ol Managem8nl and from the wuiremenl to ￿pare a strategic rewrt. R?¥pon$lbllltlg$ of tru¥tg As explained more fully irn Ibe trustees. ￿SpOnsIbl1rtles st8tement set out on page 11. the trustees (who are olso tho directors of Ihe charitab￿ Company for Ihe purposès ol ￿MpanY lawl are responsible for the preparation of th8 financial stal8rn8nls and fL¥ b8ing satisfied Ihal they give a true and fair view. and for such inlemal control as the Iruslees delemiine is ne￿$sary lo enable the prepara￿.On of finanoal statements that are free from material misstaternent. whether due lo fraud ￿ error. In p￿parIng the financial stalomonts. thè trusio6s are respons￿0 ts assessing th& charitable company's ability tts eonlinue as a going concern, di5dosing. a5 8pplic8tAe, rnatter5 related lo going concern and u511vJ the going concem basis of accounting unles$ the Iru$lees either intend to IKiuidate Ihe charitsble company or to ¢88s8 operations. or have ￿ realisbc attemalwe bu¢ to do so. Auditorfs responiibiliti•s for th• audit olth• financial ststoments We have been appointed as auditorunder secbcffi 144 of the Charib"esAca 2011 and we rep(#1 in aWOrdan￿ with regulabons made under Ihat Ad. Our objecb'ves are lo obtain reasonable assurance ab￿At wh81her the financial stat8m8nls as a whole 8r8 fre8 from material mi$slalemenl, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assuran￿ is a high ￿Ve1 of assurance. but is nol a guarantee that an audit ¢onducted in accordance wilh ISAS IUKI will ahvayE dele(1 a rnatenal misstaternenl when it exists. Mi5Statement5 can aiise frorn fraud or error and are (x)nsKlered material rf. indwidually or in the aggregate, ihey could rea50natAy be exp8cted to influence the 8conomic decish)ns of users taken on th8 basis of th8s8 financial statements. Page 14 NOTRE DAME PREPARATORY SCHOOL INORIMCHI LIMITED INDEPENDENT AUDITORS. REPORTTOTHE MEMBERS OF NOTRE DAME PREPARATORY SCHOOL INORWCHI LIMITED Extent to which the audit was considered capable of det•cting irregularitias, including fraud= We gained an understanding of Ihe legal and reguLatory frarnework applicable lo the Charity and the sector in whith il operate5 and considered the risk of the Charity not cotnpl￿￿9 with the applicable laws and regulations including fraud in particular those thal coukl have a materi81 impact on the financial statements. This induded tho$8 regulations directly related ¢0 the financial stat8men¢s, induding financial rèporting. and tax 18gislation. In relation to the operations of the Charity this induded [￿lp118n¢8 with Ihe Charities Act 2011 and SOFP 2019. The ri5k5 We￿ discussed with the audil tearn and we remained alert its any IndiLztion5 tsf non-cofflpliance throughout th8 audit. We Ggrried out specrfic priK8dur8S to address th8 risks identffi8d. Th838 included the folk)wing'. We reviewed systems anrj [￿(￿dUreS to idenlrfy potential areas ol management override risk. In particu18r, we carried wl tesfr'ThJ oljoum81 enthe5 and other adjustment5 for 8pproprialenesS.' W8 r8wewed Minutes ofcornmittee of Management rne81ings and other re18V8nt sub-cornmitte88 for any gvid8nce of instances of Iraud or norrfomplianr*. We made enouiries with the senh)r management team to identy.fy laws and regulatKJns applicable to th8 Charlly. We reviewed thé risk man8gomtnt protsssts and wottdurès in plac•. Because of the inherent limtsts"on$ ol an audit, there is a risk that we will nol detect all irregularities, including those leading lo a material misslatemenl In the finanoal slalemenls or non-C4)mpliance with regulation. This risk increases the rnore that cornpliance wilh a law or regulalion 15 removed from the events and transaclion5 reflected in the financial 51atemenls. as we will be less likely lo becorne aware ol instances of non-cornplianc8. Th8 risk is also g￿8¢er regarding irregularities occu(ring ¢ue to fraud rather than error, as fraud invdves intentional concealmenl, forgery, cdIus￿. omission or misrepresents¢ion. A lurthar d$Scrip￿On ol our rasponsibilrtiès for tha audii ol thè fina￿￿1 S￿l*M￿nIS is localad on tha Fin8ncial Reporting Council's website at htt s.'Ilww.frc.or .ukJaudilorslaudit4S5urancelaudilor-s-res r. The description forms p8rt of our audllor's rewrt. Us• of our r•port This ￿[M)rt is made solely lo the charity s trustees. as a tx)dy. in accordance wlh Chapter 3 01 Part 16 01 the Companies Act 2006. Our audrt work has been undertaken so that we might slate lo the charity's Trustees those matters we are required lo stale to them in an audiior's report and for no other purpose. To the fullest extent P8rrni118d by law, we do not acc8Pt or assume r8S￿sIbIlitY io anyon8 olh8r Ihan the charity and the charity s Truste8s as a tx)dy. lor our audit work. lor Ihis report. or lor Ih8 opinion5 W8 have fom8d. Helena Wilkinson Isen1￿ St8lutory Auditor) For and on behalf of PRICE BAILEY LLP Charteied Accounlanls Statutory Auditor5 Anglia House 6 Central Avenue Thorpe St Andrew NR7 OHR Dale.. 28 March 2023 Page 15 NOTRE DAME PREPARATORY SCHOOL INORIMCHI LIMITED STATEMENT OF FINANCIAL ACTIVITIES IINCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2022 Total funds 2022 Total funds 2021 Unre$trl¢ted Restrlcted funds funds Notes INCOME Grants and donations 7.160 7.160 Incorne frorn charitable actiwtie5 1.199.773 1,199,773 1,166,137 Olher income IProfi¢ on dispo$81 of invgstmentl 10,550 Investmènt incLYne 144 144 931 TOTAL INCOME 1,199,917 7,160 1,207,077 1,177,618 EXPENDITURE Expondlture on charltable ac¢lvttl•$: Oparalion of tho schwl 6 1.312.866 368 1,313,234 1,290,577 NET IEXPENDITUREVINCOME IN THE YEAR 1112.9491 6,792 1106,1S71 1112.9591 Transfars b6lw88n lunds 6.960 16,9601 NET MOVEMENT IN FUNDS 1105,9891 11681 1106,1571 1112,9591 Funds brought fO￿ard 947.336 947.784 1,060,743 TOTAL FUNOS CARRIED FORWARD 841,347 280 841,627 947,784 Th8 St8t8m8nt of Financial Aiknti&s ha5 iwn prgpar8d on the basis Ihal811 op8rationsar8 continuing op8rations. There are no recognised gains or losses other Ihan the nel expendilure fiK Ihe year. The notes on pages 19 to 30 lom part ofthese financial siatements. Page 16 NOTRE DAME PREPARATORY SCHOOL INORIMCHI LIMITED REGISTERED NUMBER: 01162325 8ALANCE SHEET AS AT 31 AVGUST 2022 2022 2021 FIXED ASSETS Tangl￿8 asset5 11 495.226 552,908 CURRENT ASSETS Inv8Stm8nls 12 Debtors 13 30,980 35,508 Cash al bank and in haThJ 504.317 547.307 535,297 582.615 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 14 1188,8961 1187,9411 NET CURReNT ASSETS 346,401 394,874 TOTAL ASSETS LESS CURRENT LIABILITIES 841,627 947.784 FUNDS Reslrided funds Unrestricted funds 15 448 947,336 841.347 TOTAL FUNOS B41,627 947,784 Thes8 financial 5tat8m8n15 have b8en prepared in accordanc8 with ihe provision5 applicab18 to cornpani85 subject lo the small companies. regime within Part 15 of Ihe Companies Act 2006. The financial stal8ments were approved by the Board of Truslees on 23 Mar 2023 and s￿ned on their behalf by.. WLikny Imai 23. 2021 9.04￿) Director l Trustee The notes on pages 19 to 30 form part of these arnxjnfs. P8ge 17 NOTRE DAME PREPARATORY SCHOOL (NoR￿cHI LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2022 2022 2021 Cash used In operatlng actlvltles Net rnovem8nt in funds Add ba(J( depreciation tharg8 Deduct Inte￿$¢ income shown in investiThJ acb"v1￿es (Profit) on sale of fixe(l asset inveslment Decrease I lincrea5el In debtors Increase I Idecreasel in ￿edill¥s 1106.1571 78.697 11441 1112,9591 76,390 19311 110.5501 8,617 38,727 4.528 957 N•t ¢a$h u8•d In oporatlng actlvhl 122.1191 17061 Cash flows from In￿StIng aC￿vIll￿a Interest incL)rne Purthase of tangible fixed as58ts Prowds from sale of flxed asset investment 144 121,0151 931 134,4271 202,394 Cagh u8•d In Invegllng acllvltlos 120,8711 188,898 Increage I Idecrea5el In cash and cash equlatalents In the year 142,9901 168,192 Cash and tash èquivaltnts at thè beginning ol thè yèar 547.307 379,115 Total cosh and cosh •qul¥al•nts at the end ollh• y•4r 504,317 547,307 Cash and ￿$h equlvalents Con￿Sts of.. Cash al bank and in hand 504.317 547,307 Cash and ¢ash oqulval•nts at 31 August 2022 504.317 547,307 The notes on pages 19 to 30 lorni part ofthese accLNJnts. Page 18 NOTRE DAME PREPARATORY SCHOOL (NoR￿cHI LIMITED NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 CONSTITUTtON The tharitable rA)mpany is 8 r8gister8d tharity and is limited by guarantse. The liability of each of the members is limi18d to £1 &ach. Th& registered Offi￿ is 147 Dereham Road, Norwich, Norfolk, NR2 3TA. At 31 August 2022. the chaiitable company had 7 suth members12021.. 91. The financial stat8m8nt5 are pres8nt8d in sterfing which 15 the funclional currency of th8 company rounded to the nearest pwnd. The company is inrxwated in England and Wabs. ACCOUNTING POLICIES The significant ar£ountiThJ rdicies used in the preparat￿n of these finanrial statements 8re.' 2.1 BASIS OF PREPARATION Th8 financrdl slaternenls have b88n prepared in aL*ordance wth Aceounting and Reporbng by Charities.. Sta¢emeTht of Recommended Pracbce applicable to chariligs preparing their ac¢ount$ in accordancewith thg Finanrial Rgwbng Stsndard applicable in th8 UK and Republic of Ireland IFRS 1021 lèffective 1 January 20191- chanb.es SORP IFRS 1021, thè Financial Reporting Standard 8pplicable in the UK and Rèpublic ol Ireland. and the Companiès Act 2006. Th8 charity constitulgs 8 publi¢ benefft entity as defined by FRS 102. 2.2 GOING CONCERN The financial statements have been prepaced on a going cOnC￿M basis.Covid-19 still had somewhat of an Impact on the school's aclivilies during Iho 2021r22 year. Ther& hav8 bean ongoing costs wlth respect lo covering 51aff sickness. a full extra-curricular pwrarnme was not restored until J8nu8ry 22 and many of the sarne cleanirg regimes and 8$80ciated costs remained in place durirg the la31 academic year. The cost of living crisis hit all sectors In 2022 and the school's expenditure Is much higher as a ￿SuIL 11 is importanl lo nol8 though tha¢ ful and proper financol proiecuons have been complèted and despite Ihe bss lor the year. confim) that Ihe businèss has sufficient eash reserves to rnainlain viabilrty lor at least one year trcffl Ihe dato ol these aCc￿nis. The sch(x)I has recently emrdoyed a new Marke￿n9 strategy In order lo boosl admissions into the sehool. parlicularfy Ihè lower eThJ. In addition. Iha school rthrf organises and runs its ohvn holiday dub whith Is an additional service oflered 10 parents for the maiorityol the main holiday pèriods and this 15 expected lo boost incorne and interest in the school generally. The school continues to onsider 8 50 week 8 5*ar nursery provision and oudine plans for this are in the process of being drawn up. however. this will very much depend on the success of the holiday club mowng forward. Finally, a TLKJdler Group has Tecenlly been rein5ts1ed at the schc¥)l. This will a551St with tnaking Nolre Darne Prep rnor8 visib18 lo k)cal par8n15 who rnwJht not nec85sarily hav8 known what 15 on offer to them at the sch(x)I whith could polenlkqlly lead to more nursery admissions in particular. Sengble o)ntrds on spendiThJ hav& been imFdemented wrthc*rt sacrifiang the necessary investment in the sehwl to maintain and improve standards arvj keep NDPS moving forward. 2.3 TurrioN FEES Tuition fees ￿￿SeTht Scho￿ fees and simlar in(x)me charged which a￿ all wrthin the United Kingdom. 2.4 DONATIONS Donab'ons are ac(x)unted for on a T8￿1val￿? b8sis in a￿XXd8nI￿ wrth the Staternent of Recommended Practice for Charitie$. P8ge 19 NOTRE DAME PREPARATORY SCHOOL INORIMCHI LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 2.5 GRANT INCOME Ineome from local authority grants a￿ fecognised when the charity has entit￿ment to the funds. any performance condttions attached to the grant have been met. it 15 probably that the income will be r8C8ived, and Ihe amount can b8 m8asur8d r81iability and is not def8rred. 2.6 INTEREST RECEIVEA8LE Inte￿$1 on lunds held on de￿1 is induded when receivable and the amount can be measured reliably by th8 tharity., this 1$ r￿)rmalty urmyn noffication of th8 int8r88t paid or p8yab18 by th8 Bank. 2.7 FUND ACCOUNTING Unrestricted lunds are availa￿8 lor usè at the disuel￿n ol Ihe trustees in furtheranee of the g8neral objective5 of the th8rity- Restri¢¢ed funds 8re subigcted lo resln'r*'on3 on their expendi￿re imposed by the donor or Ihrwgh the lèm of an app8al. 2.8 EXPENDITURE Expenditure Is recognised cfi an aCcQ￿lS basis as a liability is incwrred. Expendilure Includes VAT which cannot b8 i•cov8rtd. and is ￿ported as part of thè exper¥Jilure lo which it ral8tas'. Charitable expenditure comprises those costs incurred by the charity in the d81iv8ry of it$ activities and services lor its beneficiaries. 11 indudes both (x)st$ th81 Can be allocated directly to such activities and those costs ol an indirect natuffj necessary lo support them. Govamancè costs ineluda thosè assOCka￿lj with maèting tha eonsts'tutional and s18tuttsry requirernenls of the tharily and indude the audit fee8 and rx)Bls linked to the strategic management of the charily. All costs are 8lkKal¢d betwoenthe axponditure eategoriesofthe St8temèntof Financi81 Activities on a basis design8d lo r8llecl the u58 01 the r8sourc8. Costs relating to a particular activity ar8 8llocated directly. others are aprK)rtioned on an appropriate b8S1S. 2.9 STAFF TERMINATION COSTS Redundancy and t8rrnlnatiL￿ C051s arè raeognised a$ an 8xpen8e in the Slaternent of Financi81 Activities and a liatm'lily on the BalanrA Sheet imm8diately at the point the charity is demonstrably committed to either". Temiinate the empfoymenl of an emrdoyee befo￿ Th)m)al retirement date. or Prowde terminalion benefits as a ￿￿11 ofan offer made lo enuxJr8ge voluntsry redundancy 110 LEASED ASSETS Rentals paid und8r op8rating leases are charged against inc(xn8 on a straight line basis over th8 lease tsrm. Page 20 NOTRE DAME PREPARATORY SCHOOL INORIMCHI LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 2.11 TANGIBLE FIXED PSSETS Tangible fixed a&8ets are staled at cx)st18ss aC￿mUlalad depr8ciatDn. D8pr8Chqt'on is provid8d on all assets other than laThJ. in c*der to write down the cosl of each asset to its resKYual value over rts estirnated u5elul econo¥nic lrfe. Th8 principal annual rates us8d 8re'. - Motor vehides - Property improvements - Car park - Playground Other Equipment Land 25% reducing balance OV8r rernainder of 10 y8ar lease t8rm 15% reducing ba18nc8 10% Stra￿ht ling 15% reducing balance Not ¢Jepreuated 2.12 INVESTMENTS Invèsimènt property is induded in Ihe balanc* sheel at the Tnjsiees. best eslimalè ol open market Value. Any adju51rnenl to market value is taken to Ihe statement of financi81 activities in the year. 2.13 OEBTORS Trada and olh•r d8btcKs ar• r•cognls8d at th• s8llJ8m8nt amount du• and pr•paym•nts ar8 valuèd at the 8rn0unt prepaid net ol any trade discounts du8. 2.14 CASH AT 8ANK AND IN HAND Cash at bank and cash in hand indudes cash and short ièm) hvjhly liquid invasiments with a short rnalurily of Ihrg9 month$ or less Ir￿ lh¢ date of a￿ul$itIOn or yning gf the d¢po¥il or $imi18r 8ccount. 2.15 CREDITORS Creditors and proWS￿S are reco9nis8d where the tharity has a pr88enl obligation resulting from a past evenl th81 will probably ￿sU11 in the transfer of funds to a Ihird party and the amount due to settle the obligation can be measured or estimated reliably. c￿ditOrS ané provisions are normally reeognised bt their seluemenl amount after allowing for any tradè discounts dua. 2.16 FINANCIAL INSTRUMENTS The schcx)l onty has financol assels and hnanclal liabilities of a kind that qualify as baslc Ilnandal instrurnenls. Basic finanual Insiruments are inrtially Ye￿9￿lSe￿ at transaction value and sub58quenUy measured at iheir setuernent valu8, which is al cost, with the ex(￿p￿0n of.. Investments which are measured al thew faw value as al the balance shee¢ date., Fixed assets are Measu￿ al o)st less dewecpl*)n: Finanaal a58ets include trad8 d8btors, investment propety and cash and cash equiv81ents. Finanoal Ikabilities incljde trade cteditors. acuuals. social securrty and other taxes. Page 21 NOTRE DAME PREPARATORY SCHOOL INORIMCHI LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 2.17 PENSIONS Th8 sch￿1 operat8s a deffined u>ntribution plan for rK)n-teaching staff. A d8fin8d contribution p18n is a pension pLgn under which the tmst pays fixed contritrtjtions into a separat8 entity. Onc8 th8 Contributi(￿ have been paid the s(Iwx4 has no further pa￿nent obliwions. The contribution5 are recognised a5 an expense in the Statement of Financial Activity when they f811 due. Amounts not paid ar8 shown in awu81s as 8 liabilty in th8 Balanc8 Sh88t. The ass8t5 of the plan are hekj separately Irom the school in independently administered funds. Retireft*nt benerrts to teachiThJ staff ol the school are provided by the Teachers, Penson Scheme I'TPS'I. Th8 TPS 15 an unfvnded 5ch8m8 and conlributK)ns are calojlaled 50 a5 10 Spread the cost of p8nsions over ernplO￿@s. working IN85 wrth the school in such 8 way that the pension cost is substantially level ￿rCentage of current and luture pensionable payroll. Th8 fA)nlribulions are determined by the Government Actuary on the basis of quadrennial valuations using a prospectiv8 unil tredit method. As stsied in 18. the TPS is a Mu1￿.￿MPloYer scheme with no undedwng 85sets to a5swJn b81ween ernF4oyers. Consequenly. th8 TPS is treated a5 a defined wnlribution scheme for 8Ctovnting purposes and the cvntributions reo)gnised in the period lo whith they relatg. 2.18 JUDGEMENTS AND KEY SOURces OF ESTIMATION UNCERTMNTY Th8 pr8paralion ol the f1nanci81 statements requires management to mak8 judg8rnent5, 851imat85 and 8ssumplion$ that affecl the arnounls reported. These eslima18s and judgement$ are continually reviewed and a￿ based on experience and other factors. Induding expeclab.ons of futu￿ events that are believed to be reasonable under the circumstances. No judgements lapan from those Involving estimalesl have batrn mado in tha proc•ss tsl applwng tha abov• accounling pc4icias. The kèy èsiimates made in applying the above ac¢ounling pg1i¢ies are the useful economic lives attributed to tangible fixed assets, and the valuation of inveslmenl property. There a￿ no key assumptions conceming the future, nor key sources ol estimation uncertainty at the reporting date thal have a significant risk of causing a material adjustment lo the Carrying amounts ol assets and liabilits.es within U)6 nexl financial year. GRANTS AND DONATIONS 2022 2021 Grants and donalh?ns 7.160 I grants and donations f￿Ne￿ during the year were ￿tric￿ed. INCOME FROM CHAR￿ABLE ACTMTIES 2022 2021 Turtion lees Grants from Local Authority Other incorne 1,092.322 76.239 31.212 1,070,093 78.151 17,893 1.199.773 1,166,137 All income from charitaNe activrties in 2022 and 2021 was unrestrcted. Grants were ￿ceiVed from Norfolk County C￿nCil relating lo Earfy Years Fun¢JitYJ for 3 and 4 year oTds. The fundin9 agreernent was for the perio￿ from 1s1 September 2021 to 31$1 August 2022 and is renegotiated annually. There were no unkn￿11ed conditions at Ihe year*nd. Page 22 NOTRE OAME PREPARATORY SCHOOL INORIMCHI LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 INVESTMENT INCOME All of the charrty s inveslment incom8 of £14412021.. £9311 arises from nN)ney held in inter88t b8aring savings attounts and is unrestricted. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTMTIES Operation of the school: 2022 2021 Direct costs Support costs 1.077,863 235.371 1,066,877 223,700 1,313.234 1,290,577 Analys18 ol Support ¢ost•'. 2022 2021 Salaries and wages Governance costs (note 71 Advertising Travelling Postage & C8rriag8 Telephone Office Suppl￿$ IT Eouipmenl Maintenance I Supwt Repairs & R8n8wals Cleaning 8ank Charges Subscriptions 133.735 15,222 6.289 310 213 5,783 1.234 12.863 28.473 13.904 401 16.944 120,228 14.409 11.493 171 240 3,617 459 11,563 28,764 16,944 1,693 14,119 235,371 223,700 Expenditure on charilable activities tota18d £1,313,23512021.. £1,290,577) of which £368 was re5trided 12021.. £1981 and £1.312,867 was unreslricied12021.. £1,¥JO,3791. GOVERNANCE COSTS 2022 2021 Audit aThJ accountancy fees Other leg81 and profe55ional fees 7,500 7,722 5,850 8,559 15,222 14,409 Page 23 NOTRE DAME PREPARATORY SCHOOL INORIMCHI LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 NET INCOME 2022 2021 This 1$ stated aft8r charging: Depreaation ofowned assets Profit on disposal of fixed assets Op8rating lease payments for rent of land and bu￿1￿j8 Auditor's remuneratKJn- audit fee Auditor's remunerabon- nofvaudil seN 78.697 76,390 10,550 33,000 4,800 1,050 33,000 5.350 4.810 STAFF COSTS, TRUSTEE REMUNERATION AND EXPENSES. AND THE COST OF KEY MANAGEMENT PERSONNEL 2022 2021 The cosls incurred during the year werg.. Wages and s8lari•s Social security costs Other pension costs 756.253 57.905 120.181 724.076 56,929 93,684 934.339 874,689 The nurnb8r of hWJh8r pabj emFkny88s was.. 2022 2021 No. In the band £70.001 . £80.000 In the band £80,001 - £90,1)00 P8n5ion c051s are allocated ￿ adivibas In pfoFrfxtiLNI to thè rei418d S￿￿ing costs incurred 8nd are wholly charged lo unre5trirled lunds. The ¢I￿￿Or$ or members of the cornmrttee of management We￿ not pa￿ or received any other benefits trom employmentwilh the s¢hox￿ In the year12021". NIL) neiiherwerethey reirnbursed any expenses during the year12021 NIL). No charty r￿1Vad pa￿ent lor pro1è58ional or other 5èrvieas $uppliad to thè charity12021.. NIL). The key management persc¥)nel ofthe chanty wnpnse the Head teacher. two Deputy Head teathers and the Bursar. The total empkJyEe beneffts of the key tnawwetnent personnel of the Chanty were £256,156 12021.. £235,085). 10 STAFF NUMBERS The average number ol erntAoyees during the yearwas 39 slaff12021.. 37 staffl. Page 24 NOTRE DAME PREPARATORY SCHOOL INORIMCHI LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 11 TANGIBLE FIXED ASSETS Motor Vehides Property Land Equipment lrnprovem8nts Total COST Al 1 September 2021 38.394 29,0(X) 272.946 648.149 988,489 Additions 3,960 17.055 21,015 Disposals 19.0321 19.0321 Al 31 August 2022 38.394 29.0(￿1 276.906 656.172 1,000,472 DEPRECIATION Al 1 September 2021 31,586 156.938 247,077 435,581 Charge ￿ the year 1,707 17,S76 59.414 78,697 On Dispos81 19,0321 19,0321 AI 31 August 2022 33.273 174.514 297.459 505,246 NET BOOK VALUE AI 31 August 2022 5,121 29,OC 102.392 358,713 495,226 Al 31 August 2021 6,828 29,OC4) 116,008 401,072 552,908 Thè fixad ass8ls arè US￿ for L*aritaNe WIp￿S. Property irnprov8rntnlS indudè playground equipm8nt which was purth8s8d by way of a donation from The Parent Teacher As%)ckgts'on. Th8 closing n8t brA)k value was £164 12021.. £3101 and there w8S a depredatlon charge of £14612021.. £1721 duriro ¢he year. Equiprnent inrJude¥ ￿M[￿le1$ with a nei l>)ok valu? of £11612021.. £1381 and 8 depreriation charg? of £2212021.. £261 which have be￿ purchased wlh ￿$tricted funds. Motor vehid8s inrJud8 a rninibuswhich was p8rf1y purcha58d bywayoldonats'ons. Al restricted fund5 h8V8 been utilised through dePr8￿a￿.on charges. Included in property improV￿ent disF¥)sals is a canopy purchased wilh donated funds. All restricted funds had been ￿lI1$e￿ through dep￿￿￿tI)n charges wy)r lo the diskM)sats. No Consideration was re￿ived. These entries have been induded within restricted fund& Page 25 NOTRE DAME PREPARATORY SCHOOL INORIMCHI LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 12 INVESTMENTS 2022 2021 Value bought forward 191,844 Disposals 1191.8441 Value carried lO￿ard In th8 ￿ar gnded 31 August 2021, Ihg disrx)sed 014 AdelaKIg Street, Norwich. 13 0eBTORS 2022 2021 Tr8d• deblo Prgpayrngnls and ac¢xued incl 8.354 22.626 23,442 12,066 30,980 35,508 14 CREDITORS- AMOUNTS FALLING DUE lthvrrHIN ONE YEAR 2022 2021 Trade creditors Daposits and 1é8S Paid in a¢fvar Accruals So¢￿1 WAJrlly and other tsxes 5.329 151.457 17,471 14.639 5,364 149,201 20,457 12,919 188,896 187,941 DEFERRED INCOME 08ferred incorne relat8S to fees p8#J in advance.. 2022 2021 Fee5 in ad¥rdnce broughl forward Arnounts de18rr8d during th8 year Arnounts released during Ihe ￿ar 102.813 102,908 1102,8131 72,557 102,813 172,5571 F8e5 in advance carried lorward 102,908 102,813 Page 26 NOTRE DAME PREPARATORY SCHOOL INORWCHI LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 15 RESTRICTEO FUNDS At 1 SOp￿m￿r 2021 Income Expendlture Transfers 31 August 2022 Computer equipment Playground Canopy Other donatic￿$ 138 310 1221 11461 116 164 16,9601 2(K) 12(K)I 448 7,160 13681 16,9601 280 Al 31 August 2021 1 S•ptomb¢r 2020 Incom• Exp•ndltur• Computer equipment Playground 1261 11721 138 310 482 11981 448 The ￿mpul8r equipmenl and playground fund5 represenl asseis purthased from specrfi¢ doThalions. The balance ￿fIed5 their net bcKJk value, held for futu￿ depwiaiKJn to be ¢h8rged against. NET ASSETS BY FUND Unrostrlcted Restrlcted Fund$ Funds 2022 Total Fix8d Assets Current Assets Current Liabilit￿$ 494,946 543,297 1188.896 495,226 543,297 1188.8961 B49,347 849,627 Unres1￿¢1ed Re$trl¢t¢d Fund5 Fund5 2021 Total Fixed Assets Current Assels Curr8nt Liabl1r(￿S 552.460 582.815 1187,9411 552.908 582.815 1187,9411 947.334 947,782 Page 27 NOTRE DAME PREPARATORY SCHOOL (NORV￿cHI LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 17 ANALYSIS OF NET DEBT At start of perlod Cash flows At end of period 2022 Cash 547.307 142.9901 504.317 18 PENSION COMMITMENTS There arè two pension schemes in ptace at ￿ year ènd. For non-leaching staff. the schod op8rates 8 defined contribution5 pension schem8. The as58t5 of the scheme are held separately from those of the sdwl in an independently administered fund. Thg pension cost charge represents contribut￿$ payable by the sch¢J)I to the fund and amounted to £24.33112021'. £20.4481. ContrSbutl￿S iotalling £1.93212021.. £1.9631 warts payabl• to tha ftjnd at tho balanc& sh881 data and 8r• ineludad in Cradrt￿. The charity s academic and related $t8ff belong to Ihe Teathers. pension Scheme England and Wales. Thls is a mulli.empbyer defined benefit scheme. The latest actuarial valuation of the TPS related to the period ended 31 August 2019. Ther6 were no outstanding c* prepaid ctjnlributions at arther the beginning or the end of the financial year. T•achers' P•nslon khemo The Te8chers' PensK)n Scheme (TPS or scheme) is a slalulory. unfunded, defined b8n8fit occupational scheme, govemed by Ihe Teachers, PeThs*)ns Regulati(￿$ 2010 las 8mendedl, and the Teachers. Pension Schemè Regulations 2014 las amended). Thèse r6gulalion$ apply lo t8achers in schools and othor educational eslablishments. irfluding academ*s. in En9laThJ and Wales that are malnlalned by local authoritiès. In 8ddilion, teachers in rnany indwndeni and volunlary-aided schools and teachers and lecturers in sorne 8slat4ishmenls ol further and hyher edurAtK)n may b8 eligi￿e for mernb8rship. Membershlp is aulomalK for luI￿tIMe le￿her$ aThJ lecturers and. from 1 January 2007. automatic loo for teacher5 and lecturers In part-￿.￿ne ernployment folkvrfing sp￿Intman1 or a ehbnge of contract. Teachers and lecturers are able lo opl out of Ihe TPS. Th• Toachors, Ponslon Budg•tlng and Valuatlon Account Although rnernbers may ￿ ernployed by varicAJS bodies, their relirement and other pension benefits ar8 set out in regulation5 made under Ih8 Sup8rannuaiK)n Act119721 and Public serwi(￿ Pen￿onS Act120131 and a￿ paid by public funds ￿￿￿ed by Padiament. The TPS Is an unlunded scheme and members contribute on a'pay as you ￿).￿a$1$- ￿IntributIonS from members. along with those made by employers. a￿ C￿￿1¢e￿ lo the Exchequer under arTrngements 9ovemed t)y the above Ads. The T8acher5' P8n&ons ReguLqtK)ns 2010 r8quire an annual account, Ih8 Teach8rs' Pension Budgeting and Valuation Account, to be kepl of re￿IPtS and expenditure liTrdLKJiThg the c05t of pension inciea5es1. From 1 Apnl 2001. the Aco)unl has been uediled with a wl rale of ￿tum. which is equivalentto assuming that the balan￿ in the Ac¢ounl is invesied in notional invesbnents that P[Odu￿ that real rate of retum. Page 28 NOTRE DAME PREPARATORY SCHOOL INORWCHI LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 18 PENSION COMMITMENTS ICONTINUEDI Voluatlon of th¢ T?a¢hers' p￿810n S¢h¢ As a result of the latest scherne wdluaticfi empbyer Ix¥knbutions were increased in September 2019 froffl rate of 16.4¥d to 23.6%. Employ8rs 8150 pay a charg8 8qUIV818nt to 0.08% 01 p8n5ion8b18 S818ry Costs to cover administrats.on expenses. The next valuation is expeded to take effect in 2023. A copy of the lat8St Valua￿'On r8WJrt Gqn ￿ fouTh4 by fcAlvwiro this link to the Teach8rs' Pension Sch8rne webslte.'https'.IA￿￿.te8¢herspensl0ns.￿.UkInew￿em￿oYer￿2ol9Io4rteaCherS-pensIOns-va1U8tk)n- resy)rt.aspx Schemo Change# In December2018, the Court ofApp8al held thaltransitsonal protection provisions contsined in the reformed judicial and fI￿righter pension schemes. introduced as part of puNic sèrvice pension reforms in 2015. gave rise lo direct ag8 disLTiminatioTh and wer8 Iher81or8 unL8wlul. Th8 Suprerne Court. in a decisi1￿ mad8 in Jun8 2019, r8jected the Governrnenl's applIG9￿.on lor pemission to appe81 the Court ofAppeal'5 ruling and subsequently referr8d the c8se lo an Ernploymenl Tribunal to deterrnine a rernedy which will need to bg offered lo those members ol the sth8mes who were subject of the age discrimination. Sinc8 then, daims have also been l&Yged *3ainst th8 rnain pU￿1C serwce scherne5 including the TPS. Tha D8partrnent has conceded th058 in line wilh the rest of the governrn8nl. In July 2020 HM Treasury launch8d 12-week publ￿ consultation which will provKle evkJenc£ ¢0 support the delivery of an appropriate remedy for the affected schemes, in¢ludir4J TPS. A final remedy will ￿ daièmiinèd ont* th• rèsults of thè (￿SU1181￿)n ara èst8bli$hed. In December 2019, a fvrther le981 thallenge was rnale against the TPS ￿lating to an identified gqualities issue whorèby male survivors of OPFM)silfvs6x marriages and partnerships are trèated less favourably than su￿VorS in sam&sex marriages and ovil partnerships. The Seuetsry of Slate for Educallon agreed not to d8fend the ease. In ju￿ 2020, the Ern￿oYMent Tribunal recorded its finding5 in r85pecl of thè dairnant. DfE is currently working 10 8Stablish what changes are necessary to address thi8 discrimination. Any impact of these events will be taken into acc(wJnt when the next sc*eme valuatton is Implemented. This is scheduled to be implemenlod in April 2023, based on Awl 2020 dat8. 19 RELATED PARTY TRANSACTIONS Legal fee5 totalling £nil12021.. £8821 in respe￿ of debt C(Alect￿n se￿iceS and other advise were incurred during the year wilh Steele'5 Law. a firm in which R Bailey Iforner trusteel is a director. There was £nil outstanding at the year-8nd12021.. £nill. There were no other related partytransac¢KJns that have ocoJrred during the year12021". Th)nel. Page 29 NOTRE DAME PREPARATORY SCHOOL INORWCHI LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 20 COMMITMENTS UNDER OPERATING LEASES At 31 D8C8mb8r 2022 th8 Company had future minimwn lease P8yThents und8r non-C8ncdlab18 oper8ts.ng 18a88S 8s follows.. 2022 2021 Land and bulldlny$ Not later than 1 year Later than 1 and not later than S years Later than 5 years 34,167 67.083 33,000 98.333 101.250 131.333 Page 30